Kazakhstan’s national oil company, KazMunaiGas, is considering the possibility of acquiring the Bulgarian oil refinery Lukoil Neftohim Burgas AD, which belongs to the Russian company Lukoil, Kazinform news agency reports, confirming discussions that have already appeared in the press. The Kazakh agency is the first to publish KazMunaiGas’ position on the matter. “JSC NC KazMunaiGas […]
Kazakhstan’s state-owned company reported a 1.3% increase in oil production in 2024 and is continuing explorations alongside Western oil giants to produce even more. KazMunayGas (KMG) produced 23.8 million tons of oil and condensate in 2024, the press service of the Kazakh president said, as quoted by Interfax. “The KMG Group of Companies produced 23.8 […]
Following new US sanctions on the Russian oil sector, Gazprom Neft will have 45 days to divest its stake in Serbian oil company NIS, Serbian President Aleksandar Vucic said on Friday, as quoted by Reuters. Gazprom Neft is the oil arm of Russian gas giant Gazprom, and has now been sanctioned by the US and […]
The increase in fuel excise duties, which came into effect on January 1, is also having an impact on the European ranking of pump prices. Romania is climbing the price ladder, especially for diesel. While Romania traditionally had the second-lowest price of automotive fuels in the European Union, surpassed only by Bulgaria among the countries […]
Norway exported a record amount of natural gas last year and volumes are expected to remain close to that level in the coming years, official data and forecasts published on Thursday showed, Reuters reported, citing Agerpres. After Russia’s invasion of Ukraine in 2022, Norway became Europe’s largest supplier of natural gas, supplying about 30% of […]
Energy Minister Sebastian Burduja told the Financial Times (FT) that the takeover of gas and electricity supplier E.ON Energie România by Hungarian state-owned MVM could be blocked on security grounds, following the precedent of Spain, which blocked a deal to take over a railway business by a Hungarian company. “We have seen precedents in Spain […]
The Azeri-Chirag-Gunashli (ACG) oil field generated revenues of $6.16 billion from the beginning of last year to January 1, 2025, News.az reports. The State Oil Fund of the Republic of Azerbaijan (SOFAZ) recorded a 10.7% decrease in revenues compared to the previous period, News.Az reports. In 2023, the cumulative revenues from the ACG field amounted […]
OMV Petrom, one of the owners of the Neptun Deep block in the Romanian Black Sea, along with state-owned Romgaz, says that the practice of contracting in advance the gas to be extracted is common for such projects. Here is what OMV Petrom said: “OMV Petrom is one of the largest gas suppliers in Romania, […]
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, announced the resumption of development activities in the Zohr gas field, along with the drilling of two new development wells set to begin this month, Egypt Today reports. Speaking at a general session of the Egyptian Senate, the minister also revealed plans to launch the Digital […]
Kazakhstan’s state oil company KazMunayGas, which controls Rompetrol Group, has submitted a bid to buy Bulgaria’s Lukoil refinery, according to two people familiar with the negotiations, cited by Bloomberg. Litasco SA, the main shareholder of Lukoil Neftohim Burgas AD – the company that runs Bulgaria’s only Burgas refinery – and its subsidiary have already accepted […]
Romania has assumed the role of leader in the European energy sector. The information regarding the future export, after 2027, of a quantity of natural gas from the Neptun Deep perimeter, by OMV Petrom to a major company in Germany, represents a natural step in a project of strategic importance for our country and for […]
Austrian company OMV has reached a deal to supply German company Uniper with gas from its Black Sea project from 2027, three people familiar with the matter told Reuters, as Europe looks for new ways to boost energy security after cutting ties with Russia. The five-year deal for 15 TWh of natural gas from the […]
The European Union should extend an emergency measure to cap natural gas prices and impose a limit of 60 euros per megawatt-hour to avoid a potential energy price shock, Italian Energy Minister Gilberto Pichetto Fratin said on Friday. Fears of an energy shock have intensified after Ukraine refused to renew a deal to transit Russian […]
The number of fuel distribution points in the Rompetrol network reached 1,328 after the first nine months of 2024, 16 more than a year ago and four times more than when Kazakhstan’s national oil and gas company, KazMunayGas, took over the Rompetrol group. The number of fuel distribution points increased fourfold in September 2024 compared […]
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